Building materials giant and sugar producer CSR has recently confirmed that the firm will raise as much as $375 Million through share sales. The funds raised are for the firm's de-merger of its sugar business. As reported by the company, it is now in the final stages of the de-merger, which will allow the building materials division retain its name as CSR., but will see possible re- branding of the company's sugar and renewable energy businesses. An exception to the same will be CSR's retail sugar sales in Australia.

Under CSR's current plan, the firm will be divided into two units, both of which will remain listed on the Australian Securities Exchange. While the first, namely the Sugar and Renewable Energy unit, will become a standalone business, CSR itself will be made up by the firm's building products and aluminum assets.

Ian Blackburne, CSR's Chairman, said that attempts to raise the company capital for the de-merger have been thoroughly approved by the broad. “The board's decision to raise additional capital was considered extremely carefully in the context of enabling the demerger and we were focused on achieving this in an equitable manner", he shared.